HS2 and the Leeds student letting market
The Leeds letting market is the perfect example of the opportunity that HS2 presents, as it will provide a number of new properties to build student accommodation on.
You’re probably acute aware of the billions of pounds of investment in HS2, or High Speed 2, to give it the full title. The project is so mammoth that it is being constructed in phases to stagger construction and costs, we presume at Rooftop Living in Leeds.
Phase One links London with the West Midlands; Phase 2A connects Crewe with Manchester and the network beyond to Cumbria and Glasgow; Phase 2B (or not 2B if Shakespeare) was still alive connects Leeds with Manchester, our cross-Pennine neighbour.
There’s little doubt that when there is investment in transport infrastructure, property prices and rental yields increase. Leeds, already on the crest of a wave, with student numbers and property values is likely to benefit too.
Much of the London-centric financial power has seen shifts to the north. Manchester and Leeds have a very vibrant financial and insurance sector that is growing annually. Numbers of young people opting to live and study in Leeds has seen exponential growth, with three major universities, with the main, the University of Leeds, being part of the prestigious Russell Group.
Leeds is attractive in many ways, even without the arrival of HS2. It has a vibrant and cosmopolitan city centre, probably the best in the north, with high end and everyday shops, an array of bars and restaurants and areas that are like campuses, with student accommodation and facilities on every road.
Leeds has always been regarded as a great place to live for students – Kirkstall, Headingley, Woodhouse and Hyde Park (our base) are student central. Homes in these areas are in great demand from undergraduates and postgraduates, as well as investors.
Student lets are what Rooftop Living specialise in and what we don’t know about the local area isn’t worth knowing!
HS2 will only speed up the desirability of Leeds as a place to study and invest. London King’s Cross can be reached via train, currently, in just over 2 hours.
Manchester to Leeds is about an hour’s drive or train journey away.
HS2 is expected to cut the time to London from Leeds to just 81 minutes and Manchester, unbelievably perhaps, can be reached in 20 minutes on the new network!
What this may mean is that many 18 year olds currently living in London or the south east may be tempted by a 81 minute journey. Those in Manchester who fancy living in the best city in the north (not that we’re biased) may well be swayed by a 20 minute start of term commute.
If investment follows the route, property prices in Leeds are bound to increase. We don’t have a crystal ball at Rooftop Living, Leeds, but we know that when a transport system is improved (like the Channel Tunnel, M25, Manchester’s Metro system), prices spike and supply falls.
If you’re a portfolio landlord, looking to invest in Leeds, contact Rooftop Living today on or call us at your earliest convenience.